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    Renovated Two-Family Home, Providence

    9 Octavia Street Providence, RI 02909

    Claim this Listing
    Pending
    $529,999

    MULTI_FAMILY - Providence, RI

    Property size:
    2,776 SF
    Lot size:
    0.11 Acres
    Added:
    Mar 7, 2026
    Days on Market:
    127
    Last Refresh:
    Jul 12 at 6:06 am

    Property Features for 9 Octavia Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R3
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Basement, Bedroom 1, Bedroom 3
    Parking
    8
    Exterior features
    Balcony
    Basement
    Full, Unfinished
    Appliances
    Gas Water Heater
    Standard status
    Pending
    Size
    2,776 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3080

    Utilities

    Heating system
    Natural Gas, Baseboard
    Water source
    Public

    Building Details

    Year built
    1928
    Floors in Building
    3
    Number of units
    2
    Flooring type
    Tile - Ceramic, Laminate, Vinyl

    Listing agent The Realpro Group

    Listing office Realpro By The Water 2202 Broad Street, Cranston, RI

    Listing date Mar 7, 2026

    MLS# 1406065 Listing URL

    Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    Located in Providence, this legal two-family home is situated on an R3 lot. The property offers nearly 5,000 sq ft of potential. The first unit has been fully renovated with modern finishes and is move-in ready. The second unit is fully livable and ready for personal updates. An unfinished basement with two egresses provides opportunity for expansion or storage. The property is located near restaurants, shopping, public transit, and major highways. This property is suitable for both owner-occupants and investors.

    Key Highlights

    • Fully renovated, move‑in ready first unit with modern finishes.
    • Legal two‑family home on an R3 lot, suitable for owner‑occupants or investors.
    • Nearly 5,000 sq ft of potential living space.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $71.6k $25.80
    − Vacancy −$4.7k −$1.68
    EGI $67.0k $24.12
    − OpEx −$20.1k −$7.24
    NOI $46.9k $16.89
    2,776 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $669.7K
    $586.0K – $781.3K (±1% cap)
    NOI $46,876 @ 7.0% cap · market cap 8.84%
    Second Best
    Apartment 5plus
    $601.5K
    $526.3K – $701.8K (±1% cap)
    NOI $42,105 @ 7.0% cap · market cap 7.94%
    Theoretical Best
    Office A
    $928.7K
    $812.6K – $1.08M (±1% cap)
    NOI $65,011 @ 7.0% cap · market cap 12.27%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Dental Office Real Estate Agency Law Firm Parking Lot & Garage (Bike/Boat/Book/etc) Store Electrical Service Accounting Firm Acupuncture Plumbing Service Tattoo & Piercing Shop

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Legal two-family home with renovation and expansion potential.
    Where is this duplex located?
    The property is located at 9 Octavia Street Providence, RI.
    What is the asking price?
    The asking price for this property is $529,999.
    What are key features of this property?
    This property features: Fully renovated, move‑in ready first unit with modern finishes.; Legal two‑family home on an R3 lot, suitable for owner‑occupants or investors.; Nearly 5,000 sq ft of potential living space.
    Contact an agent
    (401) 432-4223
    We can help!
    Contact an agent
    The Realpro Group
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